Frequently Asked Questions

Loan Requirements:

What is a car title loan?

A car title loan is a personal loan that is secured by the borrower’s vehicle. The loan amount is based upon the vehicle’s value and the borrowers ability to repay, making your credit score a less important factor. The borrower gets to keep driving the car while the loan is outstanding.

How long have you been in business?

We have been in business since 2001 and have helped hundreds of thousands of
customers get cash when they needed it most. We have offered some of the most competitive rates and flexible payment terms in the industry for over 15 years.

Are you a licensed lender?

Yes. We are fully licensed or registered and in good standing in every state in which we lend.

How can a car title loan help my credit? Do you report to the credit bureaus?

We report to the major credit reporting agencies. Making payments to us on time can improve your credit score. This loan can help you to raise your credit score and obtain new credit in the future.

Is there a penalty to pay my loan early?

No. There is no penalty to pay your loan early. In fact, paying your loan in full early will reduce the interest charged on your loan.

What do I need in order to get approved for a car title loan?

You need a car that meets the minimum value requirement and the ability and willingness to pay back the loan.

Does my car need to be paid off?

No. Many people who have a few payments left on their car loan still qualify. Best of all, we offer some of the most competitive rates and flexible payment terms in the industry. We can often payoff your existing car title loan to lower your monthly payment and save you money.

Can you help if I already have a title loan with another company?

Yes. We offer some of the most competitive rates and flexible payment terms in the industry. We can often pay off your existing car title loan to lower your monthly payment and save you money.

Do I need to be currently employed?

No, but we do need to know that you have the ability to make payments. This means you need some sort of income that you can prove. We do allow co-signers on the loan if necessary.

Is it possible to have a co-signer on my car title loan?

Yes. You can have a co-signer on your car title loan. The co-signer will need to sign a credit application and provide identification, proof of residence, and proof of income. We keep private all non-public personal data and will not let the borrower see the co-signer’s data and vice versa.

How much does my car have to be worth?

The car needs to be worth more than the amount of money you borrow. It takes only a few minutes to find out how much you can borrow, and there is no charge and no obligation to find out.

What is the minimum loan amount?

Minimum loan amounts are based on state:

Arizona – $2,000

California – $2,510

Georgia – $3,010

Missouri – $2,000

New Mexico – $2,510

South Carolina – $2,000

Utah – $2,000

Idaho – $2,000

What can I do with the money I borrow?

Anything you want. There are no restrictions on how you use your money. We always suggest that you use the money you borrow responsibly because you are obligated to pay it back.

Who backs Wilshire Consumer Credit?

Wilshire Consumer Credit is financially backed by Westlake Financial Services, a leader in indirect automotive finance. Westlake has over 25 years of experience and operates nationwide. To learn more about Westlake Financial, go to www.WestlakeFinancial.com.

Can I get a car title loan if someone else’s name is on the title with mine?

Yes. We can offer a loan if more than one name is on the vehicle’s title.

Can I get a car title loan if I cannot find the title to my car?

Yes. We can offer a loan if you have lost or misplaced the vehicle’s title.

Do I get to drive my car while the loan is outstanding?

Absolutely! One of the benefits of a car title loan is that you can keep driving your car while the loan is outstanding.

How do I get my title back after I have paid off the loan?

We will release our lien on the vehicle after you have paid off your loan. The title will be returned to you in accordance with the requirements of your state’s Department of Motor Vehicles (or similar agency).

I’m not comfortable providing my social security number online. What should I do?

Since our application is secure (www.thawte.com), you should not be concerned about any information you enter on your application. However, we understand that some people may be uncomfortable providing sensitive information on the web. If you do not wish to provide this information online, simply call us at (800) 227-8485 to submit an application over the phone.

What is the cost of my credit going to be?

Our interest rates vary depending on the state of residency of the borrower, creditworthiness, collateral, and the terms agreed to. Our annual interest rates vary between 35.50% and 199.99%. For a typical loan of $4,000 with an 80% APR and a 24 month term, the payment is $338.61 and the total scheduled interest is $4,126.87. The interest on the loan may vary depending upon the timing of the payments made.

How do I change my billing address or phone number information?

Please call the Customer Service number and speak with a Customer Service representative (800-589-0290) or log into My Account.

How can I get a copy of my recent statement?

Please call the Customer Service number and speak with a Customer Service representative (800-589-0290) or log into My Account.

How do I know if my last payment has been received?

Please call the Customer Service number and speak with a Customer Service representative (800-589-0290) or log into My Account.

How do I get a pay-off amount for my loan?

Please call the Customer Service number and speak with a Customer Service representative (800-589-0290) or log into My Account.

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